The Courier News from Blytheville, Arkansas · Page 2

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PACK
rwo
BLTTHEY1LLB
(ARK.)
COURIER
NEWS
TUESDAY,
DECEMBER
»,
194T
GOP
Readies
Tax
Cut
Bill
lor
1948
$5
Billion
Reduction
Sought;
flection
Year
[
Seen
Aid
to
Passage
i
•'•.••
I
By
Rcz
Chaaey
,
(tTnHM
Frees
Staff
Correspondent)
i
WASHINGTON,
Dec.
8
<UP>—
>
Rouse
Republicans
were
putting
fin-
j
Ishinc
touches
on
their
1948
person-
i
al
Income
tax
reduct
1
n
bill
today
I
irtth
the
idea
of
beating
President
j
Truman
to
the
punch.
I
'
OOP
merribers
expect
Mr.
Tru-
i
man—1948
being
an
election
yenr-
!
to'
recommend
tax
reduction
legls
1
lation
of
some
kind
in
his
state
of
I
the
union
message
to
Congress
next
I
month.
J
Thic,
feeling
prevails
among
Rei
publicans
despite
the
coolness
Mr
t
Truman
and
oilier
administration
!
leaders
have
shown
to
all
tax
re
'iduction
proposals
in
the
last
feu
i
'months.
The
president
on
two
oc-
[
casions
earlier
this
year
successful;
ly
vetoed
the
Republican
plan
to
t
cut
Individual
Income
taxes,
$4,000
;
000,000
a
year.
'
The
sponsor
of
the
earlier
GOP
tax
measures,
Chairman
Harold
'
Knutson,
R.,
Minn.,
of
the
Hous
i
Ways
and
Means
Committee,
als
•
will
have
his
name
on
the
new
bill.
:
Under
it
he
expects
personal
income
taxes
to
be
cut
about
$5,000,
000,000
annually,
beginning
with
i
IMS.
•
The
Republicans
don't
plan
to
take
up
Knutson's
bill
during
the
current
emergency
session.
But
it
will
be
on
the
calendar
ready
for
consideration
well
in
advance
of
Mr.
Truman's
scheduled
appear'
ance
on
Capitol
Hill.
Knutson
said
there
would
be
no
hearincs
on
his
bill.
"WeVe
already
had
all
the
hearings
weYe'
going
to
have,"
he
said.
'Exemptions
np
1100
Under
the
"revised
Knutson
t«x
tut
plan,
personal
Income
tax
ex-
emptions'would
be
Increased
from
»500
to
$600.
This,
according
to
tax
experts,
would
Uke
6,000,000
taxpayers
oft
the
rolls.
Another
new
feature
of
the
proposal
is
to
make
community
property
tax
benefits
available
to
all
taxpayers.
At
present
only
a
dozen
states-
have
laws
authorizing
a
husband
and
wife
to
apllt
their
Income
for
tax
purposes.
This
has
the
effect
on
reducing
surtaxes
In
the
middle
income
brackets.
The
general
outline
of
the
earlier
Knutson
bills—to
cut
taxes
on
*
graduated
basis—will
be
retained
in
the
new
proposal.
But
there
will
;/
be
modifications.
Under
the
bills
vetoed
by
Mr.
Truman
the
tax
cut
would
have
ranged
from
to
per
cent
in
the
low
Income
brackets
to
10.5
per
c?nt
above
»S02,000.
Taxpayers
in
the
mlddlo
bracket*
were
to
be
given
a
cut
of
15_or
20
per
cent.
Incorporation
of
the
higher
and
community
proper-
the
old
'
Aloha
Queen
jasoline
Price
toosf
Due
Soon
Two
Arkansas
Firm*
Boost
Quotations
For
Crude
Petroleum
Watchinj
the
festivities
at
tht
Hawaiian
lilands'
flnt
annual
fall
Icsllval,
this
little
queen
ol
Alarm
Week
i>
an
impressive
ad
for
Hawaii.
She
1
!
wearing
•
pineapple-trimmed
tun
suit
with
a
heart-shaped
b|b.
!
LITTLE
ROC*,
Ark.,
Dee.
I.
(UP)
—
Arkansas
motorists
today
accd
additional
retail
gasoline
price
rises,
as
petroleum
producers
raised
Arkansas
crude
oil
prices
to
•he
highest
level
In
the
state's
history.
A
two
cents
a
gallon
rlt*
was
predicted
yesterday
by
Warren
C.
Platt
of
Cleveland,
O.,
publisher
of
the
National
ePtroleum
News.
He
tald
the
rise
would
actually
help
conserve
petroleum
products.
Platt's
statement
louowed
ai
announcement
by
the
Lion
Oil
»n.
Root
Petroleum
Companies
ot
1
Dorado
boosting
their
prlc«
01
crude
oil
50
cenU
a
barrel.
In
so
doing,
they
standardlKd
their
prices
with
the
Sun
Oil
Company.
Arkansas
prices
now
range
from
$233
to
tf.30
a
barrel,
according
to
the
specific
gravity
of
the
oil.
The
additional
revenue
to
producers
and
royalty
owners
Is
estimated
about
$40,000
dally,
on
the
basis
of
an
average
daily
production
of
80,000
barrels.
I
Plntt
commented
that
the
crude
oil
price
rises
would
not
contribute
to
inflation
spirals,
He
said
the
Increases
were
necessary
if
the
industry
is
to
cooperate
with
government
reueqsts
for
higher
production.
However,
he
was
critical
of
gor-
trnment
statement*
that
the
price
increases
were
unnecessary
to
effect
a
6
per
cent
production
Increase.
He
said
oil
producers
will
have
to
reinvest
tome
two
or
three
billion
dollars.
:
ederal
Prison
nmotes
Protest
Meatless
Meals
TAOOMA,
Wuh..
Deo.
t
(ITM-
Nearly
200
lnmat«»
of
Hie
McNeil
Island
Federal
Penitentiary
today
were
in
the
third
day
or
a
hunger
strike
In
protect
against
meatleu
Tuesday
and
eigleai
Thursday.
Warden
P.
O.
gquter
uid
the
nser
strike
wai
passive,
ind
the
inmate*
merely
were
refusing
to
go
to
the
dining
hall*
at
meal
time.
The
resistance
began
Bun-
day,
h*
tald.'
Tlie
varden
Mid
no
Immediate
action
was
contemplated
to
end
the
Ja»t.
"I
am
Just
waiting
to
se«
what
will
develop
In
the
next
day
or
two,"
h«
iald.
Arkansas
Electric
Co-Op
Gets
Loan
of
$780,000
WASHINGTON,
Dec.
8.
(UP)
—
ly
Rural
Electrification
Admin-
stratlon
has
approved
the
follow-
KVowNose
Hfollp
S»
B
lP»t-»B«'»>ad
at-
"»"
SO
per
..
4*R°!$
1
^
tn
a
taxable
Income
of
'SI
\
te>'eit7,MO
a
year
probsbly
!
will'b"u
:
slated
for
a
cut
of
only
16
or
n
per
eent.
W«o*fcer
Forecaster
Tires
of\Talking
About
It;
'Sees
a
Substitute
LITTLE
ROCK,
Ark.,
Dec.
8.
'UP)
—
Civilization
has
proved
too
much
for
an
Arkansas
weather
forecaster,
and
he
has
decided
to
try
a
substitute.
Weary
weatherman
Bill
Hlgh-
•mith
said,
Just
before
leaving
for
New
Orleans
and
the
Caribbean
Sea,
"civilization
Is
too
much
for
me.
I
want
to
get
away
from
It."
The
23-year
old
employe
ol
the
Little
Rock
Weather
Bureau
"said
he
was
tired
of
routine
living,
so
he
applied
for,
and
got,
a
transfer
to
Swan
Island
—
where
the
only
white
men
are
ten
weather
observers.
"One
thing
worries
me,"
he
salrl.
"After
I'm
there
a
few
weeks,
I'll
have
told
everyone
my
life's
story—
and
I'll
have
heard
theirs
what'll
we
talk
about?"
Did
someone
suggest
"the
weather"?
A
few
drop*
of
Vkks
Va-Uo-nol
In
each
DOS-
TU
works
right
where
rouble
is
to
open
nose,
relieve
stuffy,
tran-
il»nt
coog*stlon.Btlnii
quick
relief
from
snlSr,
aneesy
head
cold
distress.
Try
It
I
Follow
directions
In
package.
VICKSVA-1RO-NOL
ing
loans:
Arkansas—Rlceland
Electric
Cooperative,
Stuttgart,
»180,000
for
completion
of
previously
approved
construction
and
other
construction
Including
71
miles
of
distribution
lines
to
serve
223
consumers.
Virginia
—
Northern
Piedmont
Electric-
Cooperative,
Culpeper
(190,000
for
construction
completecl
with
prior
approval
and
for
purchase
and
rehabilitation
of
headquarters
facilities.
trtfi^
GO
tat*
or
5c
Right
for
active
growing
feet.
Quality
throughout.
Solidly
built
to
gir*
helpful
support
needed
i..
encourage
good
poeture...
promote
proper
growth.
Extra
lonf
wear
make
Boetoniam
Ire.
•
ttriftjr
buy.
I
White
Elk
$7.95
Rio
Pact
Ratified
WASHINGTON,
Dec.
9.
(UP)
—
The
Senate
yesterday
ratified
the
American
Mutual
defense
treaty
algned
at
Rio
De
Janeiro
last
September.
Read
Courier
News
Want
Ads
&.
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tt't
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KOCKIT
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HUBBARD
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CO.
213
West
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